Omeros (OMER) Stock Price Up 6.6%
Shares of Omeros Corporation (NASDAQ:OMER) rose 6.6% during mid-day trading on Wednesday . The company traded as high as $20.74 and last traded at $20.15. Approximately 1,300,386 shares traded hands during trading, an increase of 62% from the average daily volume of 802,375 shares. The stock had previously closed at $18.91.
Several research firms recently weighed in on OMER. HC Wainwright began coverage on Omeros in a report on Wednesday, November 8th. They issued a “buy” rating and a $30.00 price objective for the company. Maxim Group restated a “buy” rating and issued a $24.00 price objective on shares of Omeros in a report on Monday, November 6th. Zacks Investment Research downgraded Omeros from a “buy” rating to a “hold” rating in a report on Wednesday, October 25th. Cantor Fitzgerald restated a “hold” rating and issued a $19.00 price objective (up from $15.00) on shares of Omeros in a report on Thursday, August 24th. Finally, Cowen downgraded Omeros from an “outperform” rating to a “market perform” rating in a report on Thursday, November 2nd. One research analyst has rated the stock with a sell rating, five have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Omeros has an average rating of “Buy” and a consensus target price of $34.14.
The company has a current ratio of 4.77, a quick ratio of 4.74 and a debt-to-equity ratio of 8.99.
Omeros (NASDAQ:OMER) last announced its earnings results on Thursday, November 9th. The biopharmaceutical company reported ($0.16) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.34) by $0.18. The firm had revenue of $21.66 million during the quarter, compared to the consensus estimate of $17.82 million. The business’s revenue for the quarter was up 91.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.34) earnings per share. research analysts forecast that Omeros Corporation will post -1.07 earnings per share for the current fiscal year.
A number of institutional investors have recently made changes to their positions in the business. Ingalls & Snyder LLC raised its holdings in Omeros by 0.3% in the third quarter. Ingalls & Snyder LLC now owns 5,161,035 shares of the biopharmaceutical company’s stock worth $111,582,000 after purchasing an additional 17,746 shares in the last quarter. Vanguard Group Inc. raised its holdings in Omeros by 5.4% in the second quarter. Vanguard Group Inc. now owns 1,825,671 shares of the biopharmaceutical company’s stock worth $36,341,000 after purchasing an additional 94,280 shares in the last quarter. State Street Corp raised its holdings in Omeros by 7.3% in the second quarter. State Street Corp now owns 987,057 shares of the biopharmaceutical company’s stock worth $19,652,000 after purchasing an additional 66,827 shares in the last quarter. Northern Trust Corp raised its holdings in Omeros by 6.4% in the second quarter. Northern Trust Corp now owns 572,576 shares of the biopharmaceutical company’s stock worth $11,397,000 after purchasing an additional 34,328 shares in the last quarter. Finally, Tocqueville Asset Management L.P. raised its holdings in Omeros by 0.7% in the third quarter. Tocqueville Asset Management L.P. now owns 480,896 shares of the biopharmaceutical company’s stock worth $10,397,000 after purchasing an additional 3,430 shares in the last quarter. Institutional investors and hedge funds own 49.85% of the company’s stock.
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Omeros Company Profile
Omeros Corporation is a biopharmaceutical company. The Company is engaged in discovering, developing and commercializing small-molecule and protein therapeutics for large-market, as well as orphan indications targeting inflammation, coagulopathies and disorders of the central nervous system. Its marketed drug product, Omidria (phenylephrine and ketorolac injection), is used during cataract surgery or intraocular lens (IOL) replacement.
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